XRP price rises today as Hyperscale considers $10M purchase
The XRP price saw a rise to $3.07 today, marking a 2.65% increase in early trading sessions. This surge was attributed to growing institutional demand and a new corporate investment that breathed fresh optimism into Ripple’s native token.
Hyperscale Data, a company operating through its subsidiary Ault Capital Group, disclosed its intentions to acquire up to $10 million worth of XRP as part of a revised corporate treasury strategy. The firm views XRP as a favorable asset for cross-border settlements, real-time transactions, and the infrastructure of decentralized finance. Analyst Bill Morgan expressed enthusiasm about recognizing XRP’s significance in corporate finance, as evident in a mounting trend of businesses adding XRP to their asset portfolios. Flora Growth Corp is one such company that currently holds XRP, along with Ethereum and Solana, as part of its treasury assets.
Despite the positive institutional developments, XRP continues to face ongoing challenges. It is currently fluctuating between the $2.98 to $3.10 range, a decrease from its peak of $3.65 in July. Since November 2024, XRP has surged nearly fourfold from a low of $0.50. Analysts predict the possibility of another attempt to breach the $4 mark in the coming months if the broader crypto market maintains its momentum.
XRP’s performance remains closely linked to Bitcoin, according to DeFiLlama statistics. The strong correlation between the two cryptocurrencies suggests that if Bitcoin reaches the forecasted value of $200,000, XRP could potentially reach $4 or even $5. However, the emergence of new tariffs on August 1st by President Trump has created uncertainties in the short-term, serving as a significant obstacle to immediate growth.
Prediction markets are divided on XRP’s future prospects, with Kalshi predicting a 42% chance of hitting $4 by 2026 and a 32% likelihood of reaching $5. These odds highlight the potential for significant growth as well as the risk of stagnation due to macroeconomic uncertainties, including the impact of tariffs.
There is speculation that Ripple may emulate MicroStrategy’s Bitcoin strategy and push XRP towards becoming a full-fledged treasury asset, encouraging more companies to adopt XRP as a digital reserve. Such a move could result in sustained upward pressure on XRP’s price as adoption increases across various industries and borders.
